Next Week's Major Events Outlook
Non-farm payrolls, Powell, and Trump vie for attention as bets on Federal Reserve rate cuts increase. Here are the key points the market will focus on in the coming week:
Monday 22:45, U.S. February S&P Global Manufacturing PMI Final
Monday 23:00, U.S. February ISM Manufacturing PMI, U.S. January Construction Spending Month-on-Month
Tuesday 21:50, 2025 FOMC voting member, St. Louis Fed President Bullard speaks
Wednesday 3:20, FOMC permanent voting member, New York Fed President Williams speaks at Bloomberg Investment Forum
Wednesday 21:15, U.S. February ADP Employment Change
Wednesday 22:45, U.S. February S&P Global Services PMI Final
Thursday 1:00, Federal Reserve releases Beige Book on Economic Conditions
Thursday 20:30, U.S. February Challenger Job Cuts
Thursday 21:30, U.S. Initial Jobless Claims for the week ending March 1
Friday 21:30, U.S. February Seasonally Adjusted Non-farm Payrolls, Unemployment Rate, Year-on-Year Hourly Earnings, and Month-on-Month
Friday 23:45, FOMC permanent voting member, New York Fed President Williams and Fed Governor Bowman participate in a panel discussion at the University of Chicago Booth School of Business organized U.S. Monetary Policy Forum
U.S. February non-farm payroll data will be released on Friday, which could be a key indicator influencing the direction of U.S. interest rates. The U.S. economy added 133,000 jobs in February, down from 143,000 in January, with the unemployment rate expected to remain unchanged at 4%, and average hourly earnings expected to rise by 0.3% month-on-month, lower than January's 0.5%. The January PCE report will be the last inflation data available to Fed officials before their next policy meeting on March 18-19. After three consecutive rate cuts totaling 100 basis points by the end of 2024, the Fed is almost certain to keep rates stable at its second consecutive meeting this year.
